Main Reasons to Buy a Private Island in Spain
Do you want to buy a private island in Spain? Well, who wouldn’t want that? Pleasant weather all year round, incredible beaches, colorful cities, and the tranquility of remote coasts – all of this makes Spain a great place for living and doing business. The bad news is that a private island in Spain is a rare find and a real gem on the estate market. But there is a lot of good news! Let’s talk in the article about private islands for sale in Spain.
Can foreigners buy an Island in Spain?
Yes, foreigners can buy real estate in Spain, including the island, on the same conditions as residents of Spain. And there are no special restrictions for buying an island, even if you are a citizen of another country.
Moreover, the government has created all the conditions to encourage the purchase of real estate by foreigners. There is a special Golden Visa program that allows you to get a visa if you buy real estate worth more than 500,000 pounds.
Also, pay attention to other features of buying an island.
- The notary plays an important role in the transfer of property rights. His responsibilities include the preparation and approval of contracts and the procedure of purchase and sale with all nuances of local law.
- The notary only approves the purchase of the island in accordance with the law. He does not represent the interests of the buyer or seller. So you need a reliable lawyer who will help you make a profitable purchase and will not allow you to get burned by a bad experience. The lawyer will check the legality of the sale of the island and the presence /absence of debts on the property.
- The absence of debts related to the sale of property is particularly important in Spain. Because here the debt is fixed to the property (not to the owner) and automatically passes to the buyer.
- Choosing a Spanish lawyer, make sure that he is registered in the local bar association (Colegio de Abogados).
So the main reasons that make buying a private island a great idea are the pleasant weather, beautiful nature, developed country, the simple process of buying an island on a freehold basis and trouble-free visiting and living on the island after buying with Golden Visa.
Are there private islands for sale in Spain?
As we said above, private islands in Spain are rarely for sale. However, such proposals exist.
For example, a few years ago was bought Colom Island, located about 200 meters from the coast of Menorca in Spain. In 2018, billionaire Alex Meruelo from the United States bought the island for 3.2 million euros.
It was also possible recently to buy a castle and land on the Isla Centinela in the middle of the Valle Iruelas Nature Reserve, just an hour’s drive from Madrid. Interestingly, that 6 months a year Isla Centinela is really an island. But in the hot part of the year, Lake Burgillo dries up and Centinela becomes a peninsula that can be reached by car.
If you want to buy an island in Spain, you will definitely have this opportunity. The real estate agent, local media, specialized online directories and other sources can help you to find the right real estate.
Make your Spanish dream come true!
Spain has created convenient conditions for the purchase of the island by citizens and residents. So keep your ear to the ground and don`t miss the opportunity to find your comfort or to start a travel business in bright Spain.
Also remind that we are working on a convenient catalog for islands for sale and rent. The functionality will be available in early 2022. In the meantime, we offer you to subscribe to our updates to receive interesting news and notifications about new opportunities on the Find Islands website.